Goldman Sachs Is 'Skeptical' on US Stocks Rally Continuing

The transcript discusses skepticism about the continued rally in global equities, particularly in the US, due to the influence of yields and potential Central Bank actions. It highlights the market's pricing of rate cuts, suggesting that while cuts are expected next year, the market is right to price them this year due to potential economic uncertainties. The discussion also covers the probabilities of aggressive Fed rate cuts if economic conditions worsen.

Why might the market's expectation of 100 basis points being priced be considered excessive?

What implications does the possibility of aggressive rate cuts have for market behavior?